Once upon a time in the twentieth century, there was an era called the Space Race, a few glorious decades of scientific discovery in the name of national superiority. But once we got to space, what was there to do? Poke around? Send some cool tunes to the farthest reaches of the solar system? Launch a robot to go to Saturn and then burn it up twenty years later?
Now these activities are fun and good for countries that like to spend money, but what about countries that like to make money? Which will be the first nation to break the surly bonds of earth and touch the face of capitalism? The answer, as it turns out, could be Luxembourg,
Luxembourg is a small but savvy nation. With few natural resources — besides its valuable national sovereignty — the country has looked to the stars for its next big venture: asteroid mining. At The Guardian, Atossa Abrahamian lays out the galactic ambitions of a country that has fashioned itself as as tax haven to craft a thriving economy. When it comes to legal loopholes, space may be the final frontier.
By crafting innovative rules, laws and regulations that only it could (or would) put on offer, Luxembourg has attracted banks, telecommunications companies and consulting firms before any of these industries came to dominate the global economy. Now, by courting asteroid miners before anyone else takes them seriously, it may very well end up doing the same thing for the commercialization of space…
The only catch was the ambiguity of space law: companies wanted assurances that the fruits of their extraterrestrial labour would be recognized here on Earth. This is not a given. Unlike on Earth, where a country can grant a company a mining concession, or a person can sell the right to exploit their land, no one has an obvious legal claim to what’s outside our atmosphere. In fact, the Outer Space Treaty, signed by 107 countries at the UN in 1967, explicitly prohibits countries from claiming sovereignty over celestial bodies. The question now is: if nobody owns or governs the great unknown, who is to say who gets to own a little piece of it?